Online Access Free 1Z0-1024 Practice Test

Which statement is true regarding the cost cutoff date in Cost Accounting?

• A.Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
• B.Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
• C.Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
• D.It only affects whether or not you can process a cost adjustment.

You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

• A.Transfer costs to Cost Management.
• B.Execute the Preprocessor.
• C.Activate its journal entry rule set assignments.
• D.Create Accounting.
• E.Transfer transactions from Receiving to Costing.

At what level can you define item cost profiles?

• A.Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
• B.Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
• C.Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
• D.Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.

You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

• A.Debit Charge Account (expense or inventory), Credit Receiving Inspection
• B.Debit Expense, Credit Expense Accrual
• C.Debit Accrued Liability, Credit Accounts Payable
• D.Debit Receiving Inspection, Credit Accrued Liability
• E.Debit Expense, Credit Receiving Inspection

You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly.
How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?

• A.Run the Create Cost Accounting Distribution process with the following parameters:
  * Accounting Mode = Draft
  * Report Style = Detail
  * Transfer to General Ledger = No
  * Post in General Ledger = No
• B.Run the Create Cost Accounting Distribution process with the following parameters:
  * Accounting Mode = Final
  * Report Style = No report
  * Transfer to General Ledger = No
  * Post in General Ledger = No
• C.Run the Create Accounting for Costing process with the following parameters:
  * Accounting Mode = Final
  * Report Style = No report
  * Transfer to General Ledger = No
  * Post in General Ledger = No
• D.Run the Create Accounting for Costing process with the following parameters:
  * Accounting Mode = Draft
  * Report Style = Detail
  * Transfer to General Ledger = No
  * Post in General Ledger = No
• E.Run the Transfer Transactions from Inventory to Costing process with the following parameters:
  * Accounting Mode = Draft
  * Report Style = Detail
  * Transfer to General Ledger = No
  * Post in General Ledger = No